Franklin Resources Inc. Purchases 66,713 Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP)

Franklin Resources Inc. raised its position in Crescent Capital BDC, Inc. (NASDAQ:CCAP - Free Report) by 35.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 256,279 shares of the company's stock after purchasing an additional 66,713 shares during the period. Franklin Resources Inc. owned 0.69% of Crescent Capital BDC worth $4,726,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CCAP. HighTower Advisors LLC increased its holdings in Crescent Capital BDC by 0.5% in the third quarter. HighTower Advisors LLC now owns 141,838 shares of the company's stock worth $2,624,000 after purchasing an additional 768 shares in the last quarter. Confluence Investment Management LLC grew its position in shares of Crescent Capital BDC by 2.2% during the 3rd quarter. Confluence Investment Management LLC now owns 73,206 shares of the company's stock worth $1,354,000 after buying an additional 1,583 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at $90,000. XTX Topco Ltd bought a new stake in shares of Crescent Capital BDC in the 2nd quarter valued at $195,000. Finally, Pettinga Financial Advisors LLC increased its stake in Crescent Capital BDC by 95.8% in the third quarter. Pettinga Financial Advisors LLC now owns 29,017 shares of the company's stock valued at $537,000 after purchasing an additional 14,200 shares in the last quarter. 49.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a research report on Monday, September 30th. They set a "buy" rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, November 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.17.

Crescent Capital BDC Price Performance

NASDAQ:CCAP traded up $0.16 during trading hours on Tuesday, hitting $19.81. 55,521 shares of the company's stock traded hands, compared to its average volume of 129,107. Crescent Capital BDC, Inc. has a 52 week low of $15.91 and a 52 week high of $20.03. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.14. The firm has a market cap of $734.20 million, a P/E ratio of 7.77 and a beta of 0.82. The business's fifty day simple moving average is $18.94 and its two-hundred day simple moving average is $18.71.

Crescent Capital BDC Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 8.48%. This is a positive change from Crescent Capital BDC's previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 31st. Crescent Capital BDC's dividend payout ratio is presently 65.88%.

Crescent Capital BDC Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.